Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable $31,800 89,500 112,500 10,700 278,500 $ 523,000 62,500 82,500 9,375 255,000 $445,000 Current Year 1 Year Ago 2 Years Ago $ 35,625 $ 37,800 50,200 54,000 5,000 230,500 $377,500 $ 75,250 $51,250 98,500 101,500 83,500 163,500 163,500 163,500 131,100 $ 523,000 104,750 $445,000 79,250 $ 129,900 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $377,500 The company's income statements for the current year and 1 year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Current Year 1 Year Ago $ 673,500 $532,000 $ 411,225 209,550 $ 345,500 134,980 13,300 ,845 502,625 $29,375 12,100 9,525 642,400 $ 31,100 0 1 of 3 eBook Pent References For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share. Current Year $ 411,225 209,550 12,100 9,525 1 Year Ago $ 673,500 $532,000 $ 345,500 134,980 13,300 8,845 642,400 $ 31,100 502,625 $29,375 $1.90 For both the Current Year and 1 Year Ago, compute the following ratios: (1-6) Compute profit margin ratio for the current year and one year ago. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 1A Required 10 Compute profit margin ratio for the current year and one year ago. $1.00 Numerator: Net sales Profit Margin Ratio Denominator: Profit Margin Ratio Current assets Profit margin rabo For both the Current Year and 1 Year Ago, compute the following ratios: (1-0) Compute profit margin ratio for the current year and one year ago. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 1A Required 18 Compute profit margin ratio for the current year and one year ago. Numerator: Net sales Current Year: 1 Year Ago: Profit Margin Ratio Denominator: Profit Margin Ratio Current assets Profit margin rabo $ 673,500 96 $ 532,000 100.0 % Required 1A Required 18>